Victoria Beckham’s fashion and beauty business recorded its first operating profit since it was founded in 2008, company accounts show.
Victoria Beckham Holdings Ltd, where the former Spice Girl serves as creative director, reported an operating profit of £7.3 million for 2025 after years of losses.
“We have all worked hard for a long time for this moment of profitability and growth,” Lady Beckham told the Financial Times.
“We’ve been very transparent about the problems that we had in the business but have recovered and are now growing at a sensible pace. After 20 years, people don’t look at my brand as a celebrity brand any more.”
Victoria Beckham remains the creative force behind the brand, while Sybille Darricarrère Lunel, formerly of Christian Dior Couture, became CEO of the fashion business in 2025. Lauren Edelman leads Victoria Beckham Beauty. David Belhassen, founder of NEO Investment Partners, serves as chairman.
Who owns the business?
Victoria Beckham Holdings is majority-owned by Victoria and David Beckham, while NEO Investment Partners holds a 30% stake. The investment firm, which put £30 million into the fashion label in 2017, is led by David Belhassen, its founder and managing partner. A veteran investor in luxury and lifestyle brands, Belhassen has played an increasingly hands-on role in Victoria Beckham’s transformation, helping steer the company towards tighter financial discipline and international expansion. NEO’s portfolio has also included names such as Tom Dixon, Valextra, AMI Paris and Experimental Group.
The remaining minority interest is associated with XIX Entertainment, the entertainment company founded by British entrepreneur Simon Fuller. Fuller, best known as the creator of the Idols television format and the former manager of the Spice Girls, has a long history with the Beckham family. He helped build Victoria’s fashion business from its launch in 2008 and was an early business partner. His involvement reflects the brand’s origins at the intersection of celebrity, entertainment and fashion.
Beauty, discipline and a new strategy
The turnaround is the result of several factors: tighter cost controls, international expansion and stronger-performing products. Among them, the £890 Dorian bag has emerged as one of the fashion house’s signature products, helping drive revenue. In beauty, another star product has played a key role: the £30 eyeliner from Victoria Beckham Beauty. Launched in 2019, the beauty business has become a powerful growth engine and now accounts for roughly two-thirds of the group’s revenue. The fashion business, meanwhile, has benefited from strong demand for tailoring, occasionwear and the brand’s signature dresses.
The brand has also successfully leveraged social media, particularly TikTok, through an effective content strategy combining makeup tutorials, behind-the-scenes footage and appearances by Victoria Beckham herself.
The company also benefited from renewed visibility following its Netflix documentary, while direct-to-consumer and wholesale sales continued to grow. After years of heavy losses, Victoria Beckham Holdings is now preparing for the next stage of its development, including the opening of a new flagship store in New York.
